Month: July 2013

Categories
Home-Based Business

3 Solid Tips to Make Your Home Office More Secure

3 Solid Tips to Make Your Home Office More Secure

Managing your business from the comfort of your home is great, but since the environment is different from a traditional office, it’s easy to forget about the importance of securing it. When you’re working from home, you are the only one who’s solely responsible for office’s security.

Just the way it’s important to keep your home office organized, it’s also important to keep it safe and secure. Here’s how you do it:

#1: Install a Home Alarm System

The safety of your home office should be your top priority – not just when you’re home but also when you’re away. Installing a quality home alarm system goes beyond warding off any intruders and keeps your home office protected round the clock. Simply having visual signs such as a sticker on your front door or a clear alarm sign in your yard is enough to deter intruders from breaking in.

What’s more, top home security systems today come with “rapid alarm response”, where local authorities get notified in case of an emergency at your home office so that they can rush in for help. For more info on how the rapid response alarm works visit http://www.securitychoice.com/. And yes, here’s an added advantage for you as a small home business owner – you might be able to write off the home alarm system for that part of your house on your income taxes.

#2: Remove Obstructions

By removing obstructions around your home, you enhance natural surveillance. The main aim of natural surveillance is not to keep any intruders away from your home office, but to keep them under observation. So how do you achieve natural surveillance? The simplest way would be through effective lighting. You don’t want any potential burglars hanging out in the shadows in the dead of the night, right? Which is why having motion lights in your parking area and also next to your house can help a great deal.

Another way to improve natural surveillance is to prune any trees near your home by up to 10 to 12 feet and keep the shrubbery low. Besides this, make sure your premise is maintained and good landscaping is done as it shows that the area is active/alert. Lastly, you should place items such as dumpsters to get a better sight lines from within your home.

#3: Avoid Data/Identity Theft

Having backups is good, but what if your business computer gets stolen? Your data gets stolen too. Most of the computers today come with built-in security options/features that can be controlled through the system preferences panel. Make the most out of this to ensure you’ve got active security. For example, you can have your sensitive data dragged into folder protected by a single password.

Want to rev up security to the maximum? Then go ahead and activate the built-in encryption program that helps in scrambling all the files on your business computer. The upside to this is that not even a single file can be opened without the required password. And the downside? In case you lose the password, you lose the data. If you’re not comfortable with such advanced data security then install a strong door to your home office equipped with the solid lock.

Article contributed by Jenna Smith

Categories
Sales & Marketing

Second Level Thinking in Sales

thinkinglevel

I’ve recently read a book title “The Most Important Thing”written by Howard Marks, aimed at stock traders and investors the book is designed to help the reader think like the major players in the world of investing.

One of the key aspects of the book is to adopt the second level thinking methodology which requires you to dig deeper and think differently to everyone else. I realised that the second level thinking mantra can in fact be implemented into a sales strategy too.

Sales qualification is about understanding the deep underlying problems and aspects of the customers’ needs and business, a lot of sales people tend to drop the ball at this point. Whilst the majority of sales professionals asks the mediocre questions that really offer no information, the exceptional sales people have realised that this is when you ask the deep questions to dig deeper.

The exceptional sales person will zero in on the questions which may seem awkward at first, but are designed to fully understand if the person has authority, money or time to carry on with the negotiation process. At this point the sales person should consider the answers and if in fact the negotiations should be saved for another time or carried on with.

First level thinkers – “Can you pass on what we’ve just spoken about to whoever is in charge?”

Second level thinkers would ask – “Do we need to have a conversation or include anyone else at this stage that will have decision making power?”

First level thinker – “What’s the potential of getting the decision maker to sign this off?”

Second level thinkers – “Are you in the position right now to make this a commitment?”

First level thinking is superficial and every sales person does it, chances are you’ll see the customers eyes glaze over due to the same questions being asking over and over again. The problem starts with the mentality of the sales person as they believe the questions they are asking are of relevance, in reality these answers can all be obtained further down the cycle.

To think on a second level basis you need to consider and take on board the following:

– What us the likely outcome in terms of pricing?

– Which price is most likely to be agreed upon?

– What are the chances I’m right?

– What are my competitors doing differently?

– Are my expectations different from my competitor?

These are just some general considerations to think of in your next cycle, the idea being that once you’ve understood and practicing going through these thoughts you can create a long term habit.

As the customer shops around with your competitors they’ll be inadvertently asked the same questions over and over again, think of the old style of insurance quote process before the comparison websites, which will make them loath the questions and the person asking them.

Asking the thought provoking questions tends to ignite the thought processes of a customer, second level thinking gives you the chance to ask the deep questions which provide you with answers that can be followed up with a new set of questions.

Categories
Finance & Capital

Does Your Business Angel Have a Tarnished Halo or Broken Wings?

The successful agreement

Although it isn’t quite clear where the term ‘business angel’ originated, there are some who believe that it was first used to describe private investors backing Broadway productions. Today the term has taken on a whole new meaning and to struggling businesses, it can feel like a touch of heaven sent to heal broken and wounded companies.

Private investors are most commonly referred to as ‘angels’ in other parts of the world, Europe and Australia in particular, but more and more often the term is being used within the United States. If you are the owner or director of a financially distressed business, this may be something worth investigating. However, there are a few things to be aware of when being funded by a business angel because they aren’t always a blessing in disguise.

What Exactly Is a Business Angel?

Business angels are generally private investors who are willing to invest money into small to medium sized businesses for a number of reasons. Usually the owner of the business is looking for funds to expand operations or to stay current on debts when times are tough. A business angel can be a breath of fresh air but they can also resemble a typhoon or a tsunami, wreaking havoc throughout an already distressed company.

Most often business angels are individuals who reached the top of the ladder within their field of enterprise and have a tidy nest egg to invest. Quite often they are retired persons who don’t want to completely leave the world of business and as a result are looking to keep their ‘hands wet’ through investment in smaller firms. They are likely to set themselves up as advisors as well as investors within the company. Herein is where problems may arise.

Define an Angel’s Role at the Onset

When a business is in dire need of money to increase cashflow, the directors or owners may entertain any offer that comes forward promising a quick influx of cash. Contracting with a business angel does sound like the answer to a prayer but it is important to understand the various levels of involvement a business angel may require.

Often referred to as a ‘silent partner,’ a business angel can be anything but quiet. Many, as noted above, are retired business men and women who would like to stay active in their field but work fewer hours. They seek to take on the role of advisor or mentor as a condition of investing in the company.

It is important to take the time to analyze what your definition of a business angel is. Do you want the financier to have an active say in day to day affairs or are you simply looking to offer a portion of profits in return for funding? For those owners and directors who have built a business from the ground up, it may be difficult to share control with relative outsiders, however knowledgeable they may be.

Before accepting funding from a business angel, consider the potential consequences. The right person could be an angel of light, but taking on financing and relinquishing control to the wrong person can be a nightmare. Business angels can be an answer to a prayer but they can also be angels with tarnished halos and broken wings. This is not a move to take lightly or without adequate legal counsel. As the old adage goes, always look before you leap.

Categories
Planning & Management Sales & Marketing

Successful Negotiation: Start Early

A gift for you

One of the key aspects of a negotiation is that both parties leave feeling that they got what they wanted. The hardest aspect of the negotiation is to actually achieve that as there is always a fine line that needs to be found early. How do you find it early? You start the negotiation early.

I’m not saying make phone calls and send emails to get into the head of whoever it is you’ll be meeting with but instead it’s to start the process of understanding what their strategy could potentially be. Once this has been understood you can start to align your negotiation to match with the other member of the conversation.

Always Plan

Some sales people and business people do like to think themselves as master negotiators, they can roll up to a meeting, make their demands and leave with everything they wanted and then some.

Very few of us are like this.

Instead you need to focus on doing research on a whole host of information to better understand the potential for negotiation tactics and ideas.

–          Management team

–          Company direction

–          Financials

–          Recent News

All of these aspects can and will play a vital part in the actual negotiation and the more you understand the more you can understand where, how and why the negotiation takes the route it may take.

The idea of planning is that you can construct the ideal negotiation with a counter to follow, the most important part of doing this is that you can then align your offer with the company, individual or management’s needs. All sales are completed once you’ve understood perfectly the customer’s needs, pain points and have aligned a solution – this is the foundations of a successful negotiation.

Always having a plan A and B gives you the chance you consider your options in every negotiation, having a template that is permanently stored within your memory means when a meeting gets tricky you can fall back quickly onto this “template”.

Plan A and B is also a good way to practice getting ready for the meeting in advance, because you have to understand more you’ll need to spend more time seeing if you’ve missed anything. A Plan a and B 5 minutes before the meeting rarely works in fact it probably wrecks every negotiation tactic out there.

Fear Has No Room

People like to storm out of rooms, smack the table or throw things around during the negotiation process; this isn’t a Hollywood movie so it shouldn’t even cross your mind. The trouble with fear is that we naturally experience it when rejection seems inevitable, let’s face it leaving a negotiation without matching your terms is always going to feel like rejection.

If you’ve initiated the negotiation/meeting then you need to focus in on a win-win strategy that won’t encroach on the line of “defeat”. Again this refers to the idea that if you’ve done your research and planned early you’ll understand the company and the individuals direction helping you align and create the perfect negotiation that means no one has to leave feeling a sense of remorse.

The main point of this whole article is that you need to be prepared early, if you do that then you eliminate the fear that sets upon you pre-negotiation and it gives you the best opportunities to create a win-win situation. Few can master the strategy and a lot of the times they’ll leave with either a feeling of remorse or with a bad reputation of pushing and “wounding” the other party. First things first the person opposite you should never leave with buyer’s remorse or anything closely associated with the feeling, it’s incredibly bad for business.

Categories
Starting Up

Don’t Make These Marketing Mistakes When Launching Your New Business

mistakesbig

Article Contributed by Pamela Ramos

Being is business isn’t easy. If it was, everyone would own a business. The truth is that owning your own business is incredibly difficult – long hours, little or no pay in the beginning, and there’s no one there to tell you to go home, go on a vacation, or to pick up the slack when you’re not feeling well.

Marketing drives your business forward. It makes more of an impact on your bottom line than just about anything else. Sadly, it’s also where a lot of entrepreneurs make a lot of mistakes. Here’s how to learn from others and make money at the same time.

You’re Overdoing Social Media

Don’t overdo it on social media. You’ve heard it before. You’ll probably hear it again, “everyone’s on Facebook. You have to engage people to sell them.” It’s a half-truth. While it’s possible to sell on Facebook, it’s probably not going to happen on your company’s fan page. It’s going to happen through the Facebook ads.

People tend to come to Facebook because they want to socialize. Some people come to Facebook because they want to share ideas – here’s where you can snag sales. Selling to consumers and businesses isn’t so difficult when your message is on-point. Use the ad system to discover untapped markets. Market to them, and you’ll soon forget about posting 20 messages per day to your fan page.

LinkedIn is another great place to be – except you shouldn’t be wasting your time in the discussion forums or asking or answering questions. You should be using LinkedIn’s ad system to generate leads – especially if you’re marketing to businesses. That site is full of high-powered CEOs and small business owners.

You’ve Got The “Good Enough” Mentality

It’s easy to get into a rut. You have a few ads that are performing well. The leads are coming in. All of the sudden you start to think that you’re invincible. That’s when you develop the “good enough” mentality. You’ve got enough leads and sales to keep you busy during the day, but at night you secretly wonder if you’re missing out on something. Here’s a hint: you are.

Most entrepreneurs forget to scale up their operation when things start getting good. Instead of hiring help, replicating themselves, and creating a business system that operates without them, they dig in and do more of the same work that got them to where they are now.

That’s a problem, because one person can only do so much work. At some point, you’re filled to capacity. You either grow or stagnate. Don’t make the mistake of thinking things are “good enough.” That’s a sure sign that, like Rome, you’re ready to fall.

You’re Making Excuses

Why haven’t you set up your Google Adwords account yet? Is it because Google is too expensive for you? Fine. Why not Facebook then? LinkedIn? There’s an ad network out there for you. Why don’t you get crackin’ on it?

Don’t find comfort in lame old excuses like “we’re in a recession,” “the government makes it impossible to do business,” or, “customers are tightening their belt.” Look at it this way. Even with a 10 or 15 percent unemployment rate, 80 to 85 percent of the country is still working. Even if only 50 percent of people are buying something, that’s still over 100,000 million people.

Out of that, do you think you could find 1 million people who might fall into your target market? 500,000 people? Would 50,000 customers make you rich?

Thinking Any marketing Is Good Marketing

Just because you have to market doesn’t mean you should try anything and everything under the sun. Direct marketing and direct response are the oldest, and only, type of marketing that produces results. Stick to that.

About the Author

Pamela Ramos is a marketing consultant. Her articles predominantly appear on marketing websites. To see what Yodle has done for Companies, visit the link and learn more.